Buy Cosmos
in Canada

The value of Cosmos is impacted by numerous factors. One of which is that it was generated with a fixed supply, similar to many cryptocurrencies. In this regard, it won’t experience inflation and its price hikes could result from its scarcity. Also, all payment processes, transaction fees, rewards, etc. are paid through this digital currency. This has caused a great demand for ATOM digital currency. This demand, in turn, has caused its price to experience a good growth. In such a way that this currency has experienced a growth of 528% in the last two years.

According to the CRA tax guide, you’re not taxed when you buy crypto with fiat, like Canadian Dollars. This said, even though you don’t pay tax, it’s still really important you keep good records of your crypto transactions so you can keep a detailed account of your cost basis. This lets you calculate accurate crypto gains and losses when you later dispose of your crypto assets. But note that according to the above-mentioned tax guide, buying crypto with another crypto is subject to Capital Gains Tax. The CRA views this as a disposition, meaning you’re getting rid of one asset. It doesn’t matter that you’re using it to buy another.

According to the CRA tax guideline, since cryptocurrency is viewed as a capital asset, when you dispose of it by selling it, swapping it, spending it or gifting it, you’ll owe Capital Gains Tax on any profit you make. Crypto transactions which are considered a disposition in Canada according to the CRA include: Selling crypto for CAD, swapping crypto for another crypto, spending crypto on goods or services, gifting crypto. According to the mentioned guideline, you won’t pay Capital Gains Tax on the entire proceeds when you sell, swap, spend or gift your cryptocurrency, but only the profits from it. Also note that you’ll only pay Capital Gains Tax on half your net capital gain each financial year in Canada.

You are able to purchase the minimum order size of $10 in order to buy ATOM on our exchange. Additionally, you can choose from a number of payment methods that our exchange offers to finalize your purchase transaction. Then, on your portfolio of cryptocurrency assets, the attained ATOM units will be visible.

According to the CRA tax guide, you should maintain the following records on your cryptocurrency transactions: the date of the transactions, the receipts of purchase or transfer of cryptocurrency, the value of the cryptocurrency in Canadian dollars at the time of the transaction, the digital wallet records and cryptocurrency addresses, a description of the transaction and the other party (even if it is just their cryptocurrency address), the exchange records, accounting and legal costs, the software costs related to managing your tax affairs.

After buying ATOM digital currency, you must transfer it to a wallet in order to keep it safe and secure. Cryptocurrency wallets are mainly divided into the two categories of hardware and software wallets. Hardware crypto wallets are the most secure, but software wallets usually have more features and a better user interface. Our exchange offers you a personal online wallet, which, because it can quickly connect to a wide range of trading options, greatly simplifies your trading of ATOM cryptocurrency.